The British pound rallied in an upside trend

EURO

Last Friday, the European currency drove through the upside direction, ending the day with significant signs of an upside wave confirmed with the rounding bottom after the long bearish wave, due to this move the technical oscillators have been affected to show the continuation pattern for the week ahead till the key 1.4880 levels.

The trading range for today might be between the key resistance level at 1.4880 and the key support level at 1.4570.

The general trend is up as far as 1. 3860 remains intact targets now at 1.4760 and 1.4930.

GBP

The British pound rallied in an upside trend last Friday morning to hit the major resistance level at 2.0020s, then it couldn't progress due to the uncertainty causing a huge sell-off, which in role pressured the pound down ounce again near the opening levels; however, the technical directional indicators still show an upside potential as a progressive pattern.

The trading range for today might be between the key resistance level at 2.0100 and the key support level at 1.9800.

The general trend is up as far as 1.9540 remains intact targets now at 2.0940 and 2.1050.

JPY

Last week, the US dollar against the Japanese yen fell to the downside since it has gathered enough momentum to break through the strong support level at 113.50 reaching to the next key resistance around 112.20s; in the meantime the pair just breached the miner ascending trend line, hence today, the pair is expected drop down back to the downside direction finishing the upside projection movements.

The trading range for today will be between the key resistance at 113.70 and the key support at 111.00.

The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.

CHF

The dollar against the SWISS Frank last session showed some key reversal signs after it couldn't pass the major resistance level at 1.1600; meanwhile, the technical parameters showed that the pair reached to an overbought area which in role may lead the pair down forming another bearish wave.

The trading range for today will be between the key resistances at 1.1380 the key support at 1.1150.

The general trend is down as far as 1.2020 remains intact, targets at 1.1445 and 1.1230.

CAD

The US dollar against the Canadian last week, managed the downside signals after it set the top around the major resistance area at 1.0200; the pair is expected to move down in a progressive pattern around the key support level at 0.9600 in the week a head, despite the thin trading the pair is suffering from.

The trading range for today will be between the key resistance at 0.9900 and the key support at 0.9700.

The general trend is down as far as 1.0450 remains intact, targets will be 0.9000at and 0.8880.